Stock, Option and Futures Trading
FAZ if you held
If you held FAZ the option hit $4.80 today and the 2nd target was $4.50. As a reminder this expire this week if you are still in so we would exit the full position tomorrow. We got out even or up 15 cents on this trade but have had a few emails on this trade so we wanted to make sure you get out tomorrow if you are still holding.
TZOO closed up .67 cents today off of support. It would have been a better fill yesterday at support but TZOO could have made a move without this pullback. We still have time on this trade for TZOO to break the $30 high and get up to $35.00
ICE closed down only 10 cents and LVS has now came into the bigger support where we should see a bounce soon.
The NQ did not break the 161 low to low candle but the other markets did break their intraday low from the post so the NQ might have more support here than the others. The market could make one more push down tomorrow morning but we feel as though we are coming to an area to bounce.
Up until 5 weeks ago we had moths with only 1 losing week. The last 4 weeks have been a little harder with all the gaps and conflicting patterns in this correction. It is correcting the up leg and the bigger down leg so it is getting emotional and you can see the emotion with the gaps.
Once we get out of this zone up or down we will have clearer opportunities that will set up.
Tomorrow could be that reversal day so we would watch closely if you are heavily short.